D2 (0475.381.162): financials and annual accounts

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Home / D2

D2

Ghent ·KBO/BCE: BE 0475.381.162

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Checked · Insight, alerts and connections for every Belgian company, from official sources.

Based on official Belgian registers and filed annual accounts.

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Line	2026	2025	2024	2023	2022	2020	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	141,424	156,892	184,000	142,808	178,129	149,299	177,135	198,802	129,754	56,538	231,461	179,192	115,342	81,085	53,361	46,467	25,931	24,801
Fixed assets`21/28`	116,266	114,764	114,960	118,084	116,476	108,745	136,371	129,609	113,491	31,424	22,214	37,475	52,833	22,217	25,227	25,966	12,270	14,807
Intangible fixed assets`21`	-	-	-	-	-	-	-	-	-	12,377	2,322	22,163	35,035	-	-	-	-	1,500
Tangible fixed assets`22/27`	1,616	114	310	2,309	701	438	1,314	1,753	466	1,022	1,868	4,387	7,998	12,417	15,427	16,166	2,470	3,507
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	-	90	721	1,671	3,338	5,726	6,743	8,049	1,366	1,875
Furniture and vehicles`24`	1,616	114	310	2,309	701	438	1,314	1,753	466	932	1,147	2,716	4,660	6,692	8,684	8,117	1,104	1,632
Financial fixed assets`28`	114,650	114,650	114,650	115,775	115,775	108,307	135,057	127,857	113,025	18,025	18,025	10,925	9,800	9,800	9,800	9,800	9,800	9,800
Current assets`29/58`	25,158	42,128	69,040	24,725	61,653	40,554	40,764	69,193	16,263	25,115	209,246	141,717	62,509	58,868	28,134	20,501	13,661	9,994
Stocks and contracts in progress`3`	-	-	-	-	-	-	-	-	-	-	86,014	36,628	-	-	-	-	-	-
Stocks`30/36`	-	-	-	-	-	-	-	-	-	-	86,014	36,628	-	-	-	-	-	-
Amounts receivable within one year`40/41`	23,716	22,794	24,386	5,939	52,000	8,377	32,191	65,864	11,190	24,069	118,608	57,930	3,444	10,269	148	522	10,622	7,437
Trade receivables`40`	3,750	2,500	10,314	5,201	-	7,267	-	908	5,441	23,744	72,491	32,015	411	10,225	148	522	7,801	7,437
Other amounts receivable`41`	19,966	20,294	14,071	738	52,000	1,109	32,191	64,956	5,749	325	46,117	25,915	3,033	44	-	-	2,821	-
Current investments`50/53`	-	-	10,150	10,100	-	-	-	-	-	-	-	-	-	25,000	24,956	15,000	-	-
Cash at bank and in hand`54/58`	0	19,126	34,298	8,686	9,653	32,178	7,613	3,329	5,073	1,046	1,738	46,658	58,565	23,599	1,414	4,979	2,195	2,136
Deferred charges and accrued income`490/1`	1,442	207	207	-	-	-	959	-	-	-	2,886	500	500	-	1,617	-	844	421
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	141,424	156,892	184,000	142,808	178,129	149,299	177,135	198,802	129,754	56,538	231,461	179,192	115,342	81,085	53,361	46,467	25,931	24,801
Equity`10/15`	90,661	105,068	113,905	126,639	138,800	132,849	119,142	174,903	106,052	6,241	-21,491	44,697	19,730	11,125	-7,426	-56,424	-39,142	-40,449
Contributions`10/11`	18,550	18,550	18,550	18,550	18,550	18,550	18,550	73,600	73,600	73,600	73,600	73,600	43,600	43,600	43,600	43,600	43,600	43,600
Issued capital`100`	-	-	-	-	-	18,550	18,550	73,600	73,600	73,600	73,600	73,600	43,600	43,600	43,600	43,600	43,600	43,600
Reserves`13`	107,813	107,813	107,813	107,813	107,813	101,861	84,388	84,388	82,533	-	-	-	-	-	-	-	-	-
Non-distributable reserves`130/1`	1,855	1,855	1,855	1,855	1,855	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	1,855	1,855	1,855	-	-	-	-	-	-	-	-	-	-
Reserves not available under the articles`1311`	1,855	1,855	1,855	1,855	1,855	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	82,533	82,533	82,533	82,533	82,533	82,533	82,533	82,533	82,533	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	23,424	23,424	23,424	23,424	23,424	17,473	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-35,701	-21,295	-12,458	276	12,438	12,438	16,204	16,914	-50,082	-67,359	-95,091	-28,903	-23,870	-32,475	-51,026	-100,024	-82,742	-84,049
Amounts payable`17/49`	50,763	51,824	70,095	16,169	39,328	16,450	57,993	23,899	23,702	50,297	252,951	134,495	95,612	69,961	60,787	102,892	65,072	65,250
Amounts payable after more than one year`17`	-	-	-	-	-	-	-	-	2,600	12,816	-	-	-	1,668	3,765	5,726	-	-
Financial debts`170/4`	-	-	-	-	-	-	-	-	2,600	12,816	-	-	-	1,668	3,765	5,726	-	-
Amounts payable within one year`42/48`	48,646	51,824	70,095	16,169	39,328	16,450	57,993	23,899	20,844	37,481	252,926	134,495	94,246	63,292	57,022	96,940	65,072	65,250
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	-	-	2,600	10,216	9,925	-	-	1,668	2,097	1,961	1,833	-	-
Financial debts`43`	3,113	-	-	-	-	-	-	-	-	-	187,426	126,233	-	-	-	0	-	-
Credit institutions`430/8`	3,113	-	-	-	-	-	-	-	-	-	187,426	6,233	-	-	-	0	-	-
Other loans`439`	-	-	-	-	-	-	-	-	-	-	-	120,000	-	-	-	-	-	-
Trade debts`44`	211	1,162	33,181	480	18,773	2,204	17,869	15,782	3,373	3,453	63,584	4,068	41,487	6,749	866	4,922	166	998
Suppliers`440/4`	211	1,162	33,181	480	18,773	2,204	17,869	15,782	3,373	3,453	63,584	4,068	41,487	6,749	866	4,922	166	998
Taxes, remuneration and social security`45`	6,414	3,568	1,932	14,942	10,488	7,698	1,895	5,517	7,256	4,320	1,916	1,194	9,272	9,400	2,316	2,406	3,475	3,339
Taxes`450/3`	3,914	2,318	1,932	4,448	3,625	6,311	645	3,017	6,006	3,070	1,461	1,194	9,272	7,600	2,316	2,406	3,475	3,339
Remuneration and social security`454/9`	2,500	1,250	-	10,494	6,862	1,387	1,250	2,500	1,250	1,250	455	-	-	1,800	-	-	-	-
Other amounts payable`47/48`	38,908	47,093	34,982	747	10,068	6,549	38,229	-	-	19,782	-	3,000	41,819	45,047	51,879	87,777	61,431	60,913
Accrued charges and deferred income`492/3`	2,116	-	-	-	-	-	-	-	258	-	26	-	1,366	5,000	-	227	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	1,653	-	5,170	-	-	8,735	-	-	-	620	-	40
Gross operating margin`9900`	-13,872	-4,909	7,069	57,013	59,423	54,097	741	-614	13,953	45,597	-23,816	13,592	40,938	34,787	28,815	-11,834	5,543	12,686
Remuneration, social security and pensions`62`	-	-	16,023	65,192	52,562	27,185	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	316	196	196	905	196	1,221	438	783	345	3,138	22,361	26,340	23,469	5,914	5,664	4,658	2,537	4,569
Other operating charges`640/8`	304	339	3,392	1,532	614	2,723	599	265	210	5,329	399	1,531	547	546	660	484	840	452
Operating profit (loss)`9901`	-14,492	-5,444	-12,542	-10,616	6,052	22,968	-297	-1,662	13,398	37,130	-46,575	-14,278	16,922	28,327	22,491	-16,975	2,166	7,665
Financial income`75/76B`	5,232	1,757	1,245	-	58	23	12	71,563	5,171	156	2,935	5,128	806	69	27,266	27	4	509
Recurring financial income`75`	5,232	1,757	1,245	-	58	23	12	70,715	1	156	2,935	5,128	806	69	27,266	27	4	509
Non-recurring financial income`76B`	-	-	-	-	-	-	-	848	5,170	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	3,899	3,989	484	592	838	823	246	955	1,293	9,555	9,882	4,618	574	2,402	666	751	548	443
Recurring financial charges`65`	3,899	3,989	484	592	838	672	246	430	1,293	9,555	9,882	4,618	574	2,402	666	751	548	443
Non-recurring financial charges`66B`	-	-	-	-	-	151	-	525	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	-13,159	-7,676	-11,781	-11,208	5,271	22,168	-531	68,946	17,277	27,732	-53,522	-5,033	17,153	25,994	49,091	-17,079	1,623	7,771
Income taxes`67/77`	388	1,162	153	154	4,088	4,695	180	95	-	-	12,665	-	4,548	4,444	92	203	315	277
Profit (loss) for the period`9904`	-13,547	-8,837	-11,934	-11,361	1,183	17,473	-710	68,851	17,277	27,732	-66,187	-5,033	12,605	21,550	48,999	-17,283	1,308	7,494
Profit (loss) for the period to be appropriated`9905`	-13,547	-8,837	-11,934	-11,361	1,183	17,473	-710	68,851	17,277	27,732	-66,187	-5,033	12,605	21,550	48,999	-17,283	1,308	7,494
Appropriation of the result
Profit (loss) to be appropriated`9906`	-34,842	-21,295	-11,658	276	13,621	30,711	16,204	18,769	-50,082	-67,359	-95,091	-28,903	-19,870	-29,475	-51,026	-100,024	-82,742	-84,049
Profit (loss) brought forward from the previous period`14P`	-21,295	-12,458	276	11,638	12,438	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	-	-	-	800	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	383	17,473	-	1,855	-	-	-	-	-	-	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	-	-	1,855	-	-	-	-	-	-	-	-	-	-
To other reserves`6921`	-	-	-	-	383	17,473	-	-	-	-	-	-	-	-	-	-	-	-
Profit to be distributed`694/7`	859	-	800	800	800	800	-	-	-	-	-	-	4,000	3,000	-	-	-	-
Return on contributions (dividend)`694`	859	-	800	800	800	800	-	-	-	-	-	-	-	-	-	-	-	-
Directors or managers`695`	-	-	-	-	-	-	-	-	-	-	-	-	4,000	3,000	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	-	-	1	1	1	0.5	-	-	-	-	-	-	-	-	-	-	-	-
Hours worked`1013`	-	-	288	1,598	1,288	718	-	-	-	-	-	-	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-03-2026	micro format	29-09-2026	2026-00545068	PDF
31-03-2025	micro format	31-10-2025	2025-00562678	PDF
31-03-2024	micro format	31-10-2024	2024-00530026	PDF
31-03-2023	micro format	01-12-2023	2023-00521006	PDF
31-03-2022	micro format	03-11-2022	2022-20485710	PDF
31-03-2020	micro format	27-11-2020	2020-72400041	PDF
31-03-2018	micro format	25-09-2018	2018-65600314	PDF
31-03-2017	micro format	31-10-2017	2017-68900284	PDF
31-03-2016	abbreviated format	13-06-2017	2017-16700353	PDF
31-03-2015	abbreviated format	20-10-2015	2015-65000308	PDF
31-03-2014	abbreviated format	16-10-2014	2014-64700497	PDF
31-03-2013	abbreviated format	27-11-2013	2013-66800136	PDF
31-03-2012	abbreviated format	20-09-2012	2012-56700554	PDF
31-03-2011	abbreviated format	22-12-2011	2011-64300561	PDF
31-03-2010	abbreviated format	30-11-2010	2010-61600043	PDF
31-03-2009	abbreviated format	03-11-2009	2009-83900033	PDF
31-03-2008	abbreviated format	28-11-2008	2008-82600365	PDF
31-03-2007	abbreviated format	25-09-2007	2007-73100104	PDF
31-03-2006	abbreviated format	30-11-2006	2006-88704667	PDF
31-03-2005	abbreviated format	10-11-2005	2005-85804345	PDF
31-03-2004	abbreviated format	27-09-2004	2004-67004734	PDF
31-03-2003	abbreviated format	30-09-2003	2003-71302574	PDF

Line	2026	2025	2024	2023	2022	2020	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	-14,176	-5,248	-12,346	-9,711	6,247	24,189	141	-879	13,743	40,268	-24,214	12,061	40,391	34,241	28,155	-12,317	4,703	12,234
Cash flow	-13,231	-8,642	-11,739	-10,457	1,378	18,694	-272	69,634	17,622	30,870	-43,827	21,306	36,074	27,464	54,663	-12,625	3,844	12,063
Investment in fixed assets (approximation)	1,818	0	5,134	2,513	268	-	7,200	19,141	109,800	12,468	7,100	10,981	54,085	2,904	4,925	18,354	-0	6,680
Change in cash	-19,126	-15,171	25,612	-967	-	-	4,284	-1,744	4,028	-693	-44,920	-11,906	34,965	22,185	-3,565	2,784	59	-
Working capital	-23,489	-9,696	-1,055	8,555	22,325	24,104	-17,229	45,294	-4,581	-12,366	-43,680	7,222	-31,738	-4,424	-28,888	-76,438	-51,412	-55,256
Solvency	64.1%	67.0%	61.9%	88.7%	77.9%	89.0%	67.3%	88.0%	81.7%	11.0%	-9.3%	24.9%	17.1%	13.7%	-13.9%	-121.4%	-150.9%	-163.1%
Current ratio	0.52	0.81	0.98	1.53	1.57	2.47	0.70	2.90	0.78	0.67	0.83	1.05	0.66	0.93	0.49	0.21	0.21	0.15
Quick ratio	0.52	0.81	0.98	1.53	1.57	2.47	0.70	2.90	0.78	0.67	0.49	0.78	0.66	0.93	0.49	0.21	0.21	0.15
Debt to equity	0.56	0.49	0.62	0.13	0.28	0.12	0.49	0.14	0.22	8.06	-	3.01	4.85	6.29	-	-	-	-
ROE	-14.9%	-8.4%	-10.5%	-9.0%	0.9%	13.2%	-0.6%	39.4%	16.3%	444.3%	-	-11.3%	63.9%	193.7%	-	-	-	-
ROA	-9.6%	-5.6%	-6.5%	-8.0%	0.7%	11.7%	-0.4%	34.6%	13.3%	49.0%	-28.6%	-2.8%	10.9%	26.6%	91.8%	-37.2%	5.0%	30.2%
Interest coverage	-3.64	-1.32	-25.50	-16.41	7.46	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-03-2024	31-03-2023	31-03-2022
Employees at the balance-sheet date	-	1	1
full-time	-	1	1
in full-time equivalents	-	1	1
Average over the year, in full-time equivalents	1	1	1
On a permanent contract	-	1	1
Joined	0	-	-
Left	1	-	-

Item	31-03-2026	31-03-2025	31-03-2024	31-03-2023	31-03-2022
Tangible fixed assets	€1,818	-	€5,134	€2,513	-
Financial fixed assets	-	-	-	-	€268
Depreciation and write-downs of the year	€316	€196	€196	€905	€196

D2

Annual accounts 2026

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency64.1%

Current ratio0.52

Return on assets-9.6%

Staff

Staff cost per FTE

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on D2

Next steps